> So those profits are worth little or nothing to you, both now and in the future, because you aren't entitled to receive them.

You invest in a company assuming it will increase its value over the time you hold your fraction of ownership. Parent isn't saying you're entitled to dividends, but was observing that the decision to buy Alphabet stock will likely mostly be made on the expectation of the money-making businesses continuing to grow, and only minor-ly on the hope that one or more of the ventures takes off and significantly increase company value.

Perhaps I'm reading it wrong but I didn't see an expectation of dividends in the parent's comment.